Salem Media Group (SALM) Given Average Rating of “Strong Buy” by Analysts

Shares of Salem Media Group (NASDAQ:SALM) have received an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.

Analysts have set a 12-month consensus target price of $4.00 for the company and are forecasting that the company will post ($0.04) EPS for the current quarter, according to Zacks. Zacks has also given Salem Media Group an industry rank of 162 out of 265 based on the ratings given to related companies.

Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Salem Media Group from a “hold” rating to a “sell” rating in a research note on Thursday, January 18th. ValuEngine lowered Salem Media Group from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Noble Financial reiterated a “buy” rating on shares of Salem Media Group in a research note on Friday, March 16th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SALM. First Wilshire Securities Management Inc. acquired a new stake in shares of Salem Media Group during the 4th quarter valued at $825,000. North Star Investment Management Corp. boosted its holdings in shares of Salem Media Group by 70.6% during the 4th quarter. North Star Investment Management Corp. now owns 198,052 shares of the company’s stock valued at $891,000 after acquiring an additional 81,977 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Salem Media Group by 222.0% during the 4th quarter. Deutsche Bank AG now owns 84,675 shares of the company’s stock valued at $379,000 after acquiring an additional 58,376 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Salem Media Group during the 4th quarter valued at $253,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Salem Media Group by 3.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,140,051 shares of the company’s stock valued at $7,524,000 after acquiring an additional 38,142 shares in the last quarter. 30.90% of the stock is currently owned by institutional investors.

Shares of SALM traded down $0.08 during midday trading on Thursday, hitting $3.32. The company’s stock had a trading volume of 65,759 shares, compared to its average volume of 60,988. Salem Media Group has a one year low of $3.25 and a one year high of $8.25. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.09 and a current ratio of 1.11. The firm has a market cap of $88.97, a price-to-earnings ratio of 15.45 and a beta of 1.11.

Salem Media Group (NASDAQ:SALM) last issued its quarterly earnings results on Thursday, March 15th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.06. Salem Media Group had a return on equity of 2.54% and a net margin of 9.34%. The company had revenue of $67.21 million for the quarter, compared to analyst estimates of $66.70 million. research analysts forecast that Salem Media Group will post 0.19 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 28th. Investors of record on Wednesday, March 14th were issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 7.83%. The ex-dividend date of this dividend was Tuesday, March 13th. Salem Media Group’s dividend payout ratio (DPR) is 118.18%.

Salem Media Group Company Profile

Salem Media Group, Inc operates as a multimedia company in the United States. It operates through three segments: Broadcast, Digital Media, and Publishing. The company owns and operates radio networks, which produce and distribute talk, news, and music programming to radio stations, as well as sells commercial airtime.

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